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EXCLUSIVE: For decades, curing cancer has been medicine’s holy grail. Now economists say it could also be the ultimate economic jackpot, delivering an estimated $185 trillion to the U.S. economy.
At a time when policymakers are weighing the cost of medical research against ballooning federal deficits, the report argues that curing cancer would pay for itself many times over.
The report, released by Unleash Prosperity, a free-market policy group, finds that eliminating cancer mortality would not only save millions of lives — it would dramatically strengthen the economy through longer lifespans, increased workforce participation and higher tax revenues.
Research conducted by economists Steve Moore and Tomas Philipson, estimates that fully eliminating cancer would generate $185 trillion in total economic benefits over 35 years. (Marvin Joseph/The Washington Post/Getty Images)
The stakes are enormous.
Between 2030 and 2064, researchers project that roughly 30.7 million Americans will die from cancer under the current trajectory — losses that would carry not only a profound human toll, but a sweeping economic cost.
The research, conducted by economists Steve Moore and Tomas Philipson, estimates that fully eliminating cancer mortality would generate $185 trillion in total economic benefits over 35 years.
That translates to roughly $15,000 per American per year, or about $39,000 annually for the average household — gains driven by longer lifespans, stronger workforce participation, and expanded economic output.
DEADLY CANCER RISK SPIKES WITH CERTAIN LEVEL OF ALCOHOL CONSUMPTION, STUDY FINDS
Even if cancer deaths halt by 80% over 20 years, the projected gains for the economy would still total nearly $130 trillion. (Kevin Mohatt/The Washington Post/Getty Images)
Even short of a cure, the economic upside remains substantial. Recognizing that a complete cure may not be immediately achievable, the study models a more realistic scenario in which cancer deaths are reduced by 80% over two decades.
Under that scenario, the projected gains would still total nearly $130 trillion — roughly 70% of the value of full elimination — amounting to about $10,500 per person per year.
Moore said reducing cancer deaths could boost productivity enough to meaningfully accelerate U.S. economic growth.
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Between 2030 and 2064, researchers project that roughly 30.7 million Americans will die from cancer. (Saul Loeb/AFP/Getty Images)
“If we could substantially reduce cancer deaths, the payoff would be as large as just about anything you can imagine,” Moore told Fox News Digital.
“Right now, our economy has been growing at about 3%. We could probably increase that rate by a full percentage point, which would have enormous implications for our debt and deficit. This would increase Americans’ health and our wealth, and it ought to be one of the top national priorities for our country,” he added.
As researchers push ahead with new therapies and early detection tools, the report suggests the question is no longer whether progress is possible, but how quickly it can be accelerated.
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